Question
On January 1, 2019, Weaver Company purchased as held-to-maturity debt securities $500,000 face value of Park Corporations 8% bonds for $438,483. The bonds were purchased
On January 1, 2019, Weaver Company purchased as held-to-maturity debt securities $500,000 face value of Park Corporations 8% bonds for $438,483. The bonds were purchased to yield 10% interest and pay interest annually. The bonds mature on January 1, 2029. Weaver uses the effective interest method of amortization.
Question
What amount should Weaver report on its December 31, 2020, balance sheet as an investment in held-to-maturity debt securities?
|
| $500,000 | |
|
| $446,564 | |
|
| $442,331 | |
|
| $443,404 |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
